OECD sees steel demand growing 6pc

PARIS, May 16 (AFP): A hunger for steel in China and other emerging markets is set to increase demand in 2011-2012 the OECD said Monday but rising prices could choke this trend. The Organisation for Economic Cooperation and Development (OECD) also noted that the industry faced challenges over the supply of raw materials, and in coping with pollution. Urbanisation and construction booms in emerging economies would raise demand by six per cent this year and again next year, the OECD said in a report. The rebound of steel demand from the global downturn three years ago was faster than expected. Another risk was a potential shortage of raw materials for steel producers.